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Oculus VR CLoses $16M In Series A Funding

Oculus VR has secured $16 million in Series A funding, which will be used to accelerate the development of the Oculus Rift virtual reality hardware, ultimately creating a full VR platform for gamers. Santo Politi, founder and general partner at Spark Capital, and Antonio Rodriguez, serial entrepreneur and general partner at Matrix Partners, have joined the company’s board of directors.

Palmer Luckey, founder of Oculus VR and inventor of the Oculus Rift says: “Oculus began with a single mission: to put players inside the game. This investment allows us to deliver immersive and affordable virtual reality to players everywhere.”

Brendan Iribe, CEO of Oculus VR says: “What better way to mark our first anniversary than to announce our next phase of growth. There are still many challenging problems to solve, but with the support of these great investment partners, and our passionate community, we will continue to hire the brightest minds and stay laser focused on delivering the very best virtual reality platform possible.”

The Oculus Rift is a virtual reality headset that provides a huge degree of stereoscopic 3D viewing (110 degree diagonally. Oculus VR previously raised over $2.4 million through its Kickstarter campaign, almost 10 times its fundraising goal, and multiple developers are actively supporting the headset.